Schroders today announced it is in talks with Cazenove Capital about a potential takeover of the group, as the FTSE 100 giant moves to fill a Richard Buxton-shaped hole in its UK equity desk.
The immediate attraction of the firm to Schroders is obvious. Julie Dean, one of Cazenove's top-rated managers, is on the face of it a perfect replacement for Buxton. Highly-respected manager Dean, in charge of the £1.2bn Cazenove UK Opportunities fund, has delivered top quartile returns for investors over the last one, three, and five years, according to Morningstar. Alongside Dean and other successful managers, including Matt Hudson running the UK Equity Income fund, the group also has an attractive asset - its successful wealth management business. A deal to buy the group, which...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
